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ICE and CME Trade Repositories Approved for EMIR

ESMA have approved both ICE TradeVault and the CME’s Trade Repository to operate under EMIR. This expands the list of approved TRs to six.  ESMA’s press release can be found here.

FCA delay start of physical forwards MTF ruling to 12th February

The FCA have issued a new statement in connection with the ruling that physical forwards executed via an MTF (multilateral trading facility) count as a derivative. The start date on which the rule applies (i.e. to trades executed from that day) and from when broker platforms must put appropriate arrangements in place is now the … Continue reading

New white paper from Allegro on EMIR and REMIT

Allegro Development have issued a new white paper summarising EMIR and REMIT as well as their solution. It can be downloaded here.  

Credit risk, CVA and DVA: Article on the Impact of EMIR

CreditEn have issued a short paper on the impact of EMIR on credit risk, CVA (Credit Value Adjustment) and DVA (Debt Value Adjustment). It provides some food for thought.

LME and DTCC announce partnership for EMIR reporting

The London Metals Exchange (LME) and DTCC today announced a partnership to connect LME Clear to DTCC for EMIR reporting purposes. The link is set to enable trades executed on LME and cleared there, to be reported under EMIR directly to the DTCC TR without further processing. The press release is here.

Interesting post on UTIs from Commerzbank

There isan interesting guest post on RegTechFS from Commerzbank about how they are addressing the UTI issue. The issues are slightly different for us in the energy industry, but it makes interesting reading never the less.

Notes on the REMIT Public Workshop held on 7th November 2013

Notes taken by ETR at the public workshop  on REMIT held at ACER’s offices in Ljubljana on 7th November can be found here. 

ESMA finalises clearing and risk mitigation obligations for non-EU OTC derivatives

ESMA have published their final recommendation to the Commission  on clearing and risk mitigation obligations for non EU OTC derivatives. Interesting stuff on measuring the impact of non EU trades on the EU. The press release is here and the document is here.

Letter from ESMA to Commission objecting to ETD decision

Last week ESMA sent a letter to the European Commission reiterating their disappointment at the refusal to delay the reporting of Exchange Traded Derivatives under EMIR, and pointing out the difficulties that are now going to arise and confusion that will be caused by the decision. They also have pointed out some other issues inaccuracies in … Continue reading

Approved LEI LOC list extended by ESMA

In case anyone missed it, last week’s Q+A update on EMIR coincided with an update to the list of recognised LEI (Legal Entity Identifiers) pre LOUs (Local Operating Units that may issue LEIs). The list now includes the London Stock Exchange as well as Takasbank of Turkey.